In this video we go over the recent bankruptcy filings of failed crypto lender Celsius. The collapse of Celsius serves as a cautionary tale to all investors. If lend your money to an unregulated crypto platform, you might as well be putting your money into a casino.
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0:00 - 1:06 Intro
1:07 - 2:55 Business model
2:56 - 5:00 Collapse
5:01 - 5:41 Bank run
5:42 - 8:18 Insolvency
8:19 - 10:52 Ponzi scheme?
10:53 - 12:42 CEL token manipulation
12:43 Be careful!
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #celsius #crypto
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Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0
Free Download / Stream: http://bit.ly/2Pe7mBN
Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
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Sign up to our daily newsletter for free: https://wallstreetmillennial.com/newsletter
Email us: Wallstreetmillennial @gmail.com
Support us on Patreon: https://www.patreon.com/WallStreetMillennial?fan_landing=true
Check out our new podcast on Spotify: https://open.spotify.com/show/4UZL13dUPYW1s4XtvHcEwt?si=08579cc0424d4999&nd=1
0:00 - 1:06 Intro
1:07 - 2:55 Business model
2:56 - 5:00 Collapse
5:01 - 5:41 Bank run
5:42 - 8:18 Insolvency
8:19 - 10:52 Ponzi scheme?
10:53 - 12:42 CEL token manipulation
12:43 Be careful!
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #celsius #crypto
––––––––––––––––––––––––––––––
Buddha by Kontekst https://soundcloud.com/kontekstmusic
Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0
Free Download / Stream: http://bit.ly/2Pe7mBN
Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
––––––––––––––––––––––––––––––
How stupid do you have to be to put your money into that. Seriously I don't feel bad for anyone here who lost money. Absolute stupidity.
I think having accounts at these private companies is risky. Public companies have to issue quarterly reports. No way Celsius would have been able to play this ponzi game if it had to disclose assets and liabilities every quarter.
How dare they use the term run on the bank.
Wow, that so complicated. Why not just have a regular bank account? Jeeeezz
Love the video but come on, no one viewed celcius as safer than traditional banks
Pulled my funds out last year when they got investigated, so glad I did
I love how you qualify that promises of risk-free 17% annual returns are only suss if using the blockchain, as if there’s some legit way to guarantee a promise like that lmao
There is no such thing as stable in this very unstable world of ours
😂😂😂 so he ran a bank. Wore a shirt that says banks are not your friend and people didn't see this coming.
I was making lunch while listening to this in the background…I was SCREAMING "WHAT!?' the entire time on how cowboy and reckless this all this was.
Can't wait until I get my money back in 20 years, that $20 is gonna taste so sweet
there is nothing wroth about earning yield, the yield celsius provided was not even high for most coins, especially for alts, you might as well do native staking for more yield. their problem was, they used customers' funds to speculate, trade, essentially gambling. once they lost, they had to bring in more customers to make up for the lost cryptos, and they used the new fund to bet even bigger, until the market collapsed and everything blew up. alex has managed to ruin millions of life
Fools and their money are soon parted. "" there is a sucker born , every minute "
Celsius. The ruination of many families hopes for financial freedom. We have been robbed.
The ever so popular ponzi
The pump in CEL price IS from an ongoing short squeeze.
Their community is convinced that Celsius failed due short sellers 🤷🏾♀️
10+% yield is a free lunch. There are no free lunches. They lost their money through a combination of greed and stupidity. With luck it will be the only and last time, but I suspect not.
😂😂😂😂
Sharp
great vid, thx
No worry we have FDI…. Never mind 🤣🤣🤣🤣
When the Head of Institutional Lending, at the bank-like entity you are considering parking your money in, is a 20-something girl who appeared in porn before, the only deposit you should be considering is white and sticky. Put your money someplace safe.
That’s too bad man
At one point in time Celsius was clearly a Ponzi. That much is indisputable.
Complete scam.
A sucker is born every minute……..
Free money dosen't exist……
I almost put my money in this last year. But I read about how hard it was to withdraw from the platform and I decided not to. Thankfully. I still lost all my money due to bad trading but atleast they don't have it lol.
The Rich stay Richby spending like the poor and investing without stopping then the poor stay poor by spending like the Rich yet not investing like the Rich
Despite the Economic downturn,I'm so happy☺️. I have been earning $ 60,000 returns from my $7,000 investment every 13days.
A company which is not a bank and hates banks but operates like a bank and went to apply chap11 like a bank?
Why people still believe on this BS from the beginning is mind blowing.